Issue 34: 6th September 2018

    Marriott moves residential away from luxury

    Marriott International said that its branded residential portfolio was expected to grow by more than 70% in four years. The announcement came as branded residential developments were starting to move away from their luxury-only roots to include the four star and potentially three-star market. Marriott International said that with nearly 90 branded residential projects already [...]

    IHG pursues patent

    IHG has been reached patent approval in the US for a new hotel room design in Crowne Plaza properties. The move followed an application earlier this year by Disney for an immersive multimedia room, intended to encourage guests to spend more time in their rooms, as operators fight back against the commoditisation of their products. [...]

    Hesperia snag at NH 

    Minor International’s takeover of NH Hotel Group is thought to be facing a challenge after 8.1% shareholder Hesperia was reported to have appointed JP Morgan to look at options for its stake. Hesperia had previously been linked to Hyatt Hotels Corporation, which announced last month that a takeover had become “impractical”. It is thought that [...]

    Reuben brothers take Curtain 

    The Reuben Brothers has acquired the Curtain Hotel and Members Club in Shoreditch for an undisclosed fee. The news came as rumours persisted that Soho House was considering an IPO, as the popularity of private members’ clubs grows. At The Curtain, a subsidiary of Michael Achenbaum, of the Gansevoort Hotel Group and Jeffrey Levine, the co-developers [...]

    Village Hotels means business 

    Village Hotels is due to launch its latest Village Business Club, at its hotel in Cardiff next month. The concept is the latest effort by the hotel operators to address brands such as WeWork, as hotels continue to extend their scope beyond beds. Village Hotels has launched its BClub in: Cardiff, Farnborough, London Watford, Manchester [...]

    Homeshare rivals raise funding

    Homesharing platforms Sonder and Homelike have both announced successful funding rounds. The investments will mean further expansion and greater choice in the sharing economy, as it targets the business traveller and those looking for greater curation. Sonder has agreed a USD85m funding round, led by Greenoaks Capital, taking the total raised so far to USD135m. Unlike [...]

    New twist at LaSalle

    The battle for LaSalle Hotel Properties took on a new twist with an unsolicited bid from Pebblebrook Hotel Trust. Pebblebrook said that its terms were “clearly superior to the Blackstone proposal”, which was due to be voted on at a 6 September meeting, as the US Reit sector continued its period of M&A activity. Pebblebrook [...]

    Booking back to basics

    Booking Holdings was testing a product under the name Booking Basic, offering heavily discounted rates with a number of restrictions. The launch provoked accusations that the company was in violation of wholesale contract terms with hotels, as the OTA leveraged its range of business partners. Using the tagline “Save more with just the basics,” [...]

    Competition hits HostelWorld 

    Hostelworld Group reported a drop in revenue and said that it was seeing an “increasingly competitive” market, particularly in Europe. The results came as Generator was due to open its first hostel in the US, casting off the ‘hostel’ part of its name along the way. Gary Morrison, CEO, Hostelworld, who joined the company earlier [...]